Investors Title (NASDAQ:ITIC) Short Interest Update

Investors Title (NASDAQ:ITIC - Get Free Report) was the target of a large drop in short interest during the month of December. As of December 31st, there was short interest totalling 23,400 shares, a drop of 12.4% from the December 15th total of 26,700 shares. Based on an average daily volume of 11,900 shares, the short-interest ratio is currently 2.0 days. Approximately 1.7% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Investors Title from a "hold" rating to a "buy" rating in a report on Monday, January 13th.

Investors Title Trading Up 0.0 %

Shares of Investors Title stock traded up $0.06 during mid-day trading on Monday, reaching $228.05. 17,538 shares of the stock were exchanged, compared to its average volume of 8,748. The company has a market cap of $428.73 million, a price-to-earnings ratio of 15.09 and a beta of 0.92. Investors Title has a fifty-two week low of $146.41 and a fifty-two week high of $290.40. The firm has a 50-day simple moving average of $254.35 and a 200 day simple moving average of $231.51.

Investors Title Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a $14.46 dividend. This represents a $57.84 annualized dividend and a yield of 25.36%. The ex-dividend date was Monday, December 2nd. This is an increase from Investors Title's previous quarterly dividend of $0.46. Investors Title's dividend payout ratio is presently 12.18%.

Hedge Funds Weigh In On Investors Title

A number of large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in shares of Investors Title by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 33,275 shares of the insurance provider's stock valued at $7,648,000 after purchasing an additional 809 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Investors Title by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,169 shares of the insurance provider's stock valued at $958,000 after acquiring an additional 142 shares during the last quarter. American Century Companies Inc. grew its holdings in Investors Title by 27.0% during the 2nd quarter. American Century Companies Inc. now owns 3,774 shares of the insurance provider's stock worth $680,000 after acquiring an additional 803 shares during the period. JPMorgan Chase & Co. raised its position in shares of Investors Title by 187.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,260 shares of the insurance provider's stock worth $749,000 after acquiring an additional 2,126 shares in the last quarter. Finally, Ritholtz Wealth Management lifted its stake in shares of Investors Title by 9.0% in the 3rd quarter. Ritholtz Wealth Management now owns 2,703 shares of the insurance provider's stock valued at $621,000 after purchasing an additional 223 shares during the period. Institutional investors own 41.40% of the company's stock.

Investors Title Company Profile

Investors Title Company engages in the issuance of residential and commercial title insurance for residential, institutional, commercial, and industrial properties. The company underwrites land title insurance for owners and mortgagees as a primary insurer; and assumes the reinsurance of title insurance risks from other title insurance companies.